Constantia Flexibles acquires Parikh Packaging

Constantia Flexibles Group is to acquire a 60% stake in Parikh Packaging, located in the world’s fastest growing packaging market, India.

Thomas Unger, CEO of Constantia Flexibles, says, “With this acquisition we are operating in a highly attractive growth market. India has an ever increasing middle class with growing demand for packaged food and health care products, which we want to address with top quality products and services. We also want to support the growth of our international key accounts in this market.”

Parikh Packaging has sales of around $29 million and approximately 500 employees. The company serves the confectionery, bakery, beverage and dairy markets.

The parties agreed not to disclose the purchase price of the transaction. The remaining shares will stay with the Parikh family.

The acquisition is part of the international growth strategy of Constantia Flexibles and  constitutes another important step for further growth and expansion in Asia.